Strategic investment in vertical search technology and data sciences
allows Simply Hired to continue to outpace the industry in terms of
comprehensiveness, accuracy and relevancy of search results for job
seekers and quality of candidates for employers

July 01, 2014 01:19 PM Eastern Daylight Time

SUNNYVALE, Calif.--(BUSINESS WIRE)--Simply
Hired today announced that it has secured $12 million in a
combination of equity and debt financing from existing investors
Foundation Capital and IDG Ventures as well as City National Bank. The
financing will be used to fund ongoing innovation in job search and job
seeker user experience and accelerate sales growth in the U.S. Simply
Hired, operating in 24 countries and in 12 languages, is a leader in job
search, with an index including 6 million unique job listings across
228,000 unique employers worldwide—and growing. Over 30 million unique
job seekers access the Simply Hired service each month through the web,
email and mobile devices.

“Job seekers expect – and deserve – the same kind of comprehensiveness,
timeliness and relevance from a job search engine that they experience
with general Web search engines,” said James Beriker, President and CEO
of Simply Hired. “Over the past 9 years, Simply Hired has developed
vertical search technology that leads the industry. This is no easy
feat, as job openings appear all over the Web, there is no standard for
how jobs are described by employers, and the content is highly dynamic.
With this financing, we will continue to focus on innovating on our core
search platform and evolving our capabilities to more effectively and
efficiently match job seekers and employers at scale.”

“Simply Hired has been able to solve complex search challenges in the
jobs vertical and continuously improve a search engine that is used by
millions of people around the world,” said Phil Sanderson, Managing
Director at IDG Ventures. “This is not a trivial undertaking. It takes
years of commitment and significant R&D investment–and a team of product
leaders, engineers and data scientists that understand both search and
the jobs domain. We are excited about increasing our investment in
Simply Hired and look forward to working with them through their next
phase of growth.”

Simply Hired provides more than 30 million monthly job seekers with
access to a comprehensive index of job listings in every occupation
across 228,000 unique employers in the 24 markets in which it operates.
The resulting data from job seekers and employers, and the way in which
job seekers engage with listings on the search engine, is used to
continuously optimize the experience for both job seekers and employers.
The company was named one of Forbes Magazine's 10 Best Websites For Your
Career for the second year running, and called out by PC Magazine as one
of the Best Job Search Websites.

The online recruitment industry is currently in transformation, driven
by job seekers who begin their job search on search engines instead of
traditional job boards. In addition, employers are adopting tracking,
performance optimization and other technologies widely used by online
marketers to measure and optimize their candidate sourcing spend and
other campaign performance metrics. A December 2013 study conducted by
Forrester Consulting on behalf of Simply Hired concludes that Simply
Hired's performance-based recruitment advertising platform outperforms
alternatives to deliver new hires at a significantly lower cost-per-hire
(see Total Economic Impact of Simply Hired here.)

“This transformation to job search and performance-based advertising
models is in early stages and will transform recruiting in the same way
that search and search engine marketing transformed online advertising,”
said Paul Holland, General Partner at Foundation Capital. “Job seekers
and employers are looking for services that are efficient, relevant and
high impact. Simply Hired has established itself as the leader in job
search technology for both job seekers and employers, and is perfectly
positioned to leverage this advantage into market scale and leadership.”

About Simply Hired

Simply
Hired, a technology company based in Sunnyvale, California, operates
job search engines in 24 countries and 12 languages. With more than 30
million unique visitors per month, the company provides job seekers
access to millions of job openings across all job categories and
industries, reaching job seekers on the web, mobile devices, email, and
via thousands of partner sites including The Washington Post, Fox
Business, Bloomberg Businessweek, Computerworld, International Nurses
Association, and Hero2Hired. Simply Hired enables employers to
efficiently and cost-effectively reach candidates searching for jobs
through its full-service pay-per-click (PPC) and self-service
pay-per-post job advertising solutions. Simply Hired was founded in 2005
and is privately held with funding from Foundation Capital and IDG
Ventures. For more information, visit www.simplyhired.com.